Chennai-based Invenire Energy acquires Tata Petrodyne in a $100-mn deal

This is the first instance of a private equity interest in Indian exploration sector

In a first sign of private equity (PE) interest in exploration and production in India, little-known Chennai-based Invenire Energy has taken over Tata Sons oil and gas arm Tata Petrodyne (TPL) in a $100-million deal.
 

Miami-based Atyant Capital holds a majority stake (two-thirds) in Invenire, incorporated in 2016. Invenire has also submitted bids for six oil and gas blocks — four in Assam Shelf basin and one each in Cambay and Rajasthan — in the second round of discovered small fields auction (DSF-II), the winners of which are to be announced this week.

TPL has interests in four blocks in India